Aben Resources is creating a lot of excitement with its exploration program at its Forrest Kerr Project in the Golden Triangle this summer. Last week Aben announced that it has discovered mineralization 1.5 kilometers south of the North Boundary Zone in a newly discovered area called the South Boundary Zone.
Aben drilled 3 holes which targeted a prominent soil geochemical anomaly (Au, Cu) that trends southward over 2km. All 3 holes at the “South Boundary Zone” intersected broad horizons of quartz-sulfide veins containing abundant pyrite and copper (chalcopyrite) mineralization – this is the same chalcopyrite that has been indicative of strong precious metals values throughout the rest of the 4km x 2km Boundary Zone. Aben’s August 23rd news release explains this new discovery further:
“The target at the South Boundary Zone is an area of interest due to the elevated gold in rock and soil values that are coincident with an historic electromagnetic (“EM”) conductive geophysical anomaly. Aben is highly encouraged that the mineral potential of the Forrest Kerr property has been greatly expanded through drilling at the newly discovered South Boundary Zone.”
To put this in layman’s terms Aben has hit the same sort of chalcopyrite mineralization as other high-grade holes that have been drilled at Forrest Kerr. Moreover, this area that is now being called the South Boundary Zone was identified due to strong geochemical and geophysical anomalies.
Aben CEO Jim Pettit explained on a phone call Friday that the area (South Boundary) lit up “like a Christmas tree” on the geophysical survey that they conducted of the area. Pettit went on to add:
“This new discovery of mineralization 1.5km south of the North Boundary Zone is a major development for the Company and further highlights the robust discovery potential at the Forrest Kerr Project. The mineralizing system at the property is apparently widespread and well-developed with high-grade mineralization being discovered at shallow depths over a large area. We believe we have only just scratched the surface at the newly discovered North and South Boundary Zones and an expanded drill program is currently underway with assays pending for most of the holes drilled to date.”
Aben is on to something potentially very big here at Forrest Kerr. The company sent the core for the 3 South Boundary holes off to the lab for rush assays which should be returned within two weeks. Depending upon the assay results from these holes Aben may add a second rig at Forrest Kerr for the remaining 4-5 weeks of its summer 2018 exploration program.
The key here is that Aben is making discoveries in close proximity and on trend with the most prolific geologic contact in the Golden Triangle, the contact between the Jurassic Hazelton Group and the Triassic Stuhini Group. Even more importantly the Boundary Zone at Forrest Kerr consists of the Hazelton Group of rocks which is known to be a prolific host to several deposits in the Golden Triangle.
Aben’s Forrest Kerr Project is literally right in the heart of the Golden Triangle and it is surrounded on all sides by former mines, existing mines, and world class exploration projects:
All signs are pointing to the notion that Aben is on to something special at Forrest Kerr and we may not have to wait long before we receive confirmation of this.
ABN shares have been stubbornly well bid since the blockbuster step-out drill hole FK18-10 was reported on the morning of August 9th:
This is a bullish sign because the strongest stocks will not allow newcomers to buy in on a pullback, they will be forced to pay ‘full price’. Above resistance near C$.50 I believe ABN shares could easily have an additional 60%+ of short term upside, meanwhile, C$.40 should continue to be support until proven otherwise.
Disclosure: Author is long ABN shares at time of publishing and may buy or sell at any time without notice.
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